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A major Chainlink (LINK) investor has reignited fears of a potential selloff after transferring 403,000 LINK tokens—worth approximately $5.87 million—to Binance. The whale had previously accumulated 1.75 million LINK between March 2023 and March 2024, purchasing them at an average price of $7.03. While the investor’s realized profits now total around $12 million, they once stood at $39 million before the recent market downturn. This large transaction coincided with a 2.99% drop in LINK’s price to $13.74, suggesting that the movement may have contributed to bearish pressure.
Whale 0x7fBB recently started selling $LINK for profit!
— Lookonchain (@lookonchain) June 5, 2025
Between Mar 24, 2023 and Mar 25, 2024, the whale withdrew 1.75M $LINK($12.3M) from #Kraken at an average price of $7.03 and held for over a year.
Since May 27, he has deposited 403K $LINK($5.87M) to #Binance and still… pic.twitter.com/m3ReQ95bRa
Market Braces for More Selling as Whale Holds $18.6M in LINK
Despite the recent dump, the whale still holds 1.35 million LINK valued at $18.6 million, creating uncertainty about whether more sell-offs are on the horizon. The transfer came during a broader crypto market cooldown, which saw a 5% dip over the past week. Analysts note that this could be part of a larger profit-taking trend following a strong start to 2025.
However, LINK continues to trade above a critical support trendline from June 2023, offering some technical reassurance to long-term holders. Meanwhile, Chainlink’s on-chain development remains robust, as demonstrated by the successful $450 million Ronin Bridge migration to Chainlink’s CCIP protocol to enhance cross-chain reliability and security.
Also Read: Chainlink TVS Hits Record High as $900M CIAN, $2.7B Jupiter Join the Network
Snorter Bot Gains Steam as Emerging LINK Alternative
While Chainlink navigates investor anxiety, a new competitor is catching the market’s attention. Snorter Token (SNORT), powered by a Telegram-based trading bot, has surged in popularity since its May 2025 debut. In less than a month, it raised nearly $450,000, with features like real-time scam detection, reduced trading fees, and APYs surpassing 721% on staking.
Built natively on Solana with multi-chain expansion in the works, Snorter eliminates browser dependencies, allowing users to snipe and trade meme coins directly within Telegram. The ongoing presale, currently priced at $0.0943, offers early adopters a chance to enter a rapidly growing ecosystem that may rival Chainlink’s dominance in the near future.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
